The government's strategy for housing, published today, aims to promote choice, flexibility and affordability and to "get the housing market moving again".

Unveiling the strategy, David Cameron and Nick Clegg said it would "unlock the housing market, get Britain building again, and give many more people the satisfaction and security that comes from stepping over their own threshold". They claimed that the plans were "ambitious", but that the government was determined to deliver on them. So what does the strategy promise?

Development

• £400m investment in new development, supporting housebuilders in need of development finance including small and medium sized builders

• Mortgage indemnity scheme designed with the Home Builders Federation and Council of Mortgage Lenders to offer 95% loan to value mortgages for new build properties in England, to support 100,000 households

• Free up public sector land with "build now, pay later" deals for developers, releasing enough land to build 100,000 new homes and create up to 200,000 new jobs in the construction industry

• A new £500m Growing Places fund to support infrastructure

• £400m earmarked for FirstBuy, to help 10,500 first time buyers with the help of an equity loan up to 20%

• Consultation on plans to force local authorities to re-think section 106 agreements signed before April 2010, in areas where development is stalled

• Restatement of the government's commitment to the New Homes Bonus, community infrastructure levy and local business rate retention, the community right to build and simplification of the planning system through the National Planning Policy Framework

Social housing

• Councils granted financial responsibility for their own housing stock through reform of the Housing Revenue Account

• Reform of social housing management through the Localism Act, creating a sector which uses social housing as a "springboard" for social mobility

• Average new tenancies granted for five years, with tenancies of between two and five years allocated in "exceptional circumstances"

• New for-profit housing providers to offer social housing: "The regulator is in advanced discussions with a number of publicy quoted companies who wish to set up a social housing subsidiary"

• Right-to-buy owners will be offered a discount of as much as half the value of their homes. Homes sold through right-to-buy will be matched by new homes developed for social rent

• Introduction of HomeSwap Direct, a scheme to enable social tenants to manage moving house themselves, plus the creation of 12 "mobility vanguards" - areas in which £1m will be invested to investigate new methods of mobility

• Local authorities granted to the freedom to allocate stock in the way they see fit, including granting priority to working households

• Regulation of social housing will focus on "value for money", making boards acountable for how their organisations deliver the most from assets, such as increased specialisation or econonmies of scale

• Councils no longer obligated to have open waiting lists

• Social landlords to be given new powers to identify and recover properties that are being used fraudulently